New Iran budget sees less reliance on oil revenues

Iranian President Hassan Rouhani addresses lawmakers in an open session of parliament, in Tehran, Iran, Sunday, Jan. 17, 2016. Rouhani said Sunday that the official implementation of the landmark deal reached between Tehran and six world powers has satisfied all parties except radical extremists. (AP Photo/Vahid Salemi)

TEHRAN, Iran (AP) — The latest developments as Iran and world powers implement a landmark deal reached last year to curb Iran’s nuclear activities in exchange for the lifting of international sanctions (all times local).

1:30 p.m.

Israeli Prime Minister Benjamin Netanyahu says that Israeli would monitor the Iranian nuclear deal closely to ensure that Iran was not violating its commitments.

Speaking at his weekly Cabinet meeting, Netanyahu said, “The Israel policy remains as it was — not to allow Iran to acquire a nuclear weapon.”

Netanyahu was a strong public opponent of the negotiations and drew the ire of the Obama administration by speaking in front of the U.S. Congress in an attempt to prevent the agreement. On Sunday he repeated his contention that the deal will strengthen and embolden Tehran, leading to greater regional instability.

“What is clear is that Iran will now have more resources to dedicate to their terrorism and aggression in the region and in the world, and Israel is prepared to deal with any threat,” he said.

___

12:30 p.m.

Iranian President Hasan Rouhani has presented parliament with a draft budget that would reduce the government’s reliance on oil revenues. The budget plans for an economic windfall as international economic sanctions against Iran end as part of a landmark nuclear deal.

The $75 billion budget, unveiled Sunday, is about 4.2 percent higher than the previous year’s budget of $72 billion.

Oil revenues will make up less than 25 percent of the proposed budget for the next Iranian calendar year that begins March 21, down from 33 percent the previous year.

The proposed budget predicts an exchange rate of $1 U.S. dollar to 29,970 Iranian rials. The rial is currently 36,000 to $1. It also put oil prices at $40 per barrel.

Iran also separately budgets some $190 billion for hundreds of government banks and companies.

___

12 p.m.

Iran’s President Hassan Rouhani says the official implementation Saturday of the landmark deal reached between Tehran and six world powers has satisfied all parties except radical extremists.

Speaking in the parliament in comments broadcast live on state television, Rouhani said, “In (implementing) the deal, all are happy except Zionists, warmongers, sowers of discord among Islamic nations and extremists in the U.S. The rest are happy.”

Rouhani said the deal has “opened new windows for engagement with the world.”

A strong supporter of the agreement, Rouhani sent out a celebratory tweet calling it a “glorious victory” late Saturday night while the speeches in Vienna were still taking place.